State of the Real Bitcoin Economy

[Fugger]

I really think that the best thing that could happen to bitcoin would be for Amazon to start accepting it directly, but I doubt they'll go to the trouble with all the volatility that bitcoin has right now.

I'm not sure whether volatility is the problem. When you peg the BTC price to the USD or EUR so that it actually resembles your fiat currency the issue is manageable. You would need to exchange very frequently to fiat (like daily or so) in order not to be exposed to a massive FX risk but still I think a shop like Amazon could handle that.

I wonder whether it would be possible for Amazon and other large shops from an infrastructure point of view. Probably it would require quite a lot of work and resources to integrate Bitcoin into such a large business.

[coinprize]

I think there is problem for using BTC as a medium of payment in daily life.

If I used 5 BTC to purchase a chair weeks ago,
and BTC rise from 100 USD to 200 USD,
now I want to refund for some reasons,
how many BTC could I get back?   

[BitcoinIssues]

The key is development. The software engineers out there need to be working with entrepreneurs with capital so we can get more mobile apps, more interface. Interface is the reason btc is moving like it is, but it is spreading. I would love to drive around from business to business installing software from one store to customer. This is what we need. It will be a visa, mastercard, amex, and a BTC that is when the btc becomes more of a currency in the eyes of the public. Right now it is still taboo. Not known well enough.

Go forth, hold meetups. Ask every retailer/business if they accept bitcoin. Yes you may have been in on bitcoin since the beginning and want to see your btc increase so you make more money but if we do not spread this technology it will fail for not a lack of legitimacy but because a lack of movement.

[westkybitcoins]

I think there is problem for using BTC as a medium of payment in daily life.

If I used 5 BTC to purchase a chair weeks ago,
and BTC rise from 100 USD to 200 USD,
now I want to refund for some reasons,
how many BTC could I get back?   

I don't see the problem. Until bitcoin use is widespread enough for BTC prices to be stable, goods and services will continue to be priced in fiat currencies. So you'll pay based on a fiat price, converted to BTC, and when you get a refund you'll receive the fiat value, converted to BTC.

There's no other way it can work right now, but again, I don't really think it presents a real problem. If you don't want to risk losing your bitcoins, then every purchase made with bitcoins needs to be matched by buying more bitcoins to cover it, that's all.

[Fugger]

Go forth, hold meetups. Ask every retailer/business if they accept bitcoin. Yes you may have been in on bitcoin since the beginning and want to see your btc increase so you make more money but if we do not spread this technology it will fail for not a lack of legitimacy but because a lack of movement.

This is the way! It has to start from the bottom because after all I think it's too hard to wait for someone like Amazon accepting. We all have to stat convincing small businesses accepting Bitcoin.

If there is anyone from Berlin here come join us for the Bitcoin Exchange Berlin on July 27. http://www.bitcoin-exchange-berlin.com/

[🏰 TradeFortress 🏰]

I am new to Bitcoin so I feel uniquely qualified to add my 02uBTC.
Until the use of Bitcoin is as fast and easy as something like Paypal, it cannot catch on with 'regular' people.  Right now it is just too confusing, difficult and slow.

Try Inputs.io for that.